74-year-old Admits to 7 Bank Robberies

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An elderly man who was the so-called “Fedora Bandit” admitted to robbing seven banks in the greater Sacramento area.

David Osborne, 74, admitted to the robberies in a Sacramento federal courtroom Friday. The crimes span December 2009 to June 2010, and were at banks between Paradise, outside Chico, down to Rancho Cordova, and over to South Lake Tahoe.

In each of the seven incidents, investigators say Osborne wore a hat, sunglasses, a fake mustache and a goatee. He demanded money from employees while holding a firearm.

He was visually identified from surveillance photos after the June 2010 robbery. Then investigators were able to track down a bike he used as a getaway vehicle and found traces of his DNA on it.

In addition to admitting to robbing the seven California banks, he also told officers he robbed a bank in Carson City, Nevada.

He is scheduled to be sentenced in March, and faces up to 25 years in prison and five years of supervised release for at least three counts. Osborne will owe restitution for all seven robberies.

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